Nisa Investment Advisors LLC Decreases Holdings in Fabrinet (NYSE:FN)

Nisa Investment Advisors LLC reduced its holdings in shares of Fabrinet (NYSE:FN) by 6.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,164 shares of the technology company’s stock after selling 78 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fabrinet were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. nVerses Capital LLC purchased a new position in shares of Fabrinet in the 3rd quarter valued at $567,000. Pitcairn Co. purchased a new position in shares of Fabrinet during the first quarter worth about $544,000. Seven Eight Capital LP acquired a new stake in shares of Fabrinet during the first quarter worth about $1,588,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Fabrinet by 27.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock valued at $15,036,000 after purchasing an additional 17,000 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Fabrinet in the 1st quarter valued at about $9,719,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC began coverage on shares of Fabrinet in a research report on Tuesday. They set a “buy” rating and a $280.00 target price on the stock. B. Riley decreased their price target on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Rosenblatt Securities raised their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.17.

Fabrinet Trading Up 7.2 %

NYSE:FN opened at $246.72 on Thursday. The stock’s 50 day simple moving average is $238.55 and its 200-day simple moving average is $231.81. Fabrinet has a 12-month low of $157.55 and a 12-month high of $278.38. The firm has a market cap of $8.95 billion, a P/E ratio of 30.46 and a beta of 0.95.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the previous year, the company posted $1.78 EPS. Fabrinet’s revenue was up 17.3% compared to the same quarter last year. Research analysts forecast that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Fabrinet Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.